US equity markets were mixed on Monday, largely preserving the prior session’s gains amid optimism over potential growth in US trade flows after the Supreme Court struck down country-specific tariffs imposed by the Trump administration. The S&P 500 and Dow Jones Industrial Average hovered slightly above the flatline, while the tech-heavy Nasdaq slipped marginally into negative territory.
Following the ruling, President Trump raised tariffs on all countries to 15% under Section 122, effectively keeping the overall trade stance broadly in line with existing agreements. However, these tariffs are not expected to remain in place by the fourth quarter, as congressional approval appears unlikely.
In corporate news, Eli Lilly advanced 3% after Novo Nordisk’s weight-loss pill showed weaker performance than Lilly’s competing treatment. Gilead Sciences edged higher after announcing a $7.8 billion deal to acquire Arcellx. Nvidia gained 1.6% ahead of its earnings release this week, even as other major technology names traded lower, with Microsoft, AMD, and Amazon each falling more than 1%.
